Treasurer: Class Action Members Are Owed On Average $1,640

BATON ROUGE, La. (AP) — The Louisiana state treasurer is holding money for more than 4,500 people who participated in a class action lawsuit against the Citizens Property Insurance Corporation.

Treasurer John Kennedy says in a news release Monday that most class action members are owed on average $1,640. He says there are 4,588 individuals who are owed money and haven't collected.

Kennedy's office deposited $7.7 million in settlement proceeds on May 15. Names have been uploaded into the Unclaimed Property database, which can be searched online.

The proceeds come from a class action lawsuit filed against Citizens over the handling of claims after Hurricanes Katrina and Rita. The proceeds received by the Unclaimed Property division are for class members who did not collect their payment or never cashed their checks.

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